The project, named "Porthos," is intended to be Europe's largest carbon capture and storage facility and is projected to reduce the country's annual CO2 emissions by approximately 2% over a 15-year period starting in 2026.

This investment aims to accelerate the growth and deployment of Advanced Ionics' low-cost Symbion™ electrolyzer technology, which is targeted at heavy industry applications.

The HSE warnings highlight concerns about the condition of a redundant crane on the platform, which has not been properly maintained and poses a potential risk to people and process equipment.

As a response to the challenging market conditions, Borr Drilling extended a short-term contract for its Prospector 1 rig in the North Sea, but Schorn referred to this as a "bridge" until more favorable long-term commitments can be secured in other regions.

The FPSO Anita Garibaldi MV33, part of a project aimed at extending production from the Marlim and Voador fields' deposits, was put into production on August 16, 2023.

The company expects this trend to result in higher day rates and enhanced fleet utilization in the coming years.

The project aims to expand the Al Shaheen oilfield, with plans to achieve an oil production plateau of 300,000 barrels per day.

PETRONAS has entered into a Memorandum of Understanding with AIQ, an Abu Dhabi-based technology company, to jointly develop Artificial Intelligence solutions aimed at accelerating the energy transition and promoting sustainability across energy operations.

The contract encompasses the plug and abandonment (P&A) of 30 wells within the Fulmar Field and two wells in the Halley Field.

The rig's departure follows a brief interlude between contracts, during which maintenance work was carried out.